2014-08-14T17:49:17-05:00 2013-12-31 GRANT THORNTON LLP 175 W JACKSON BLVD STE 2000 CHICAGO IL 60604 990 2013-01-01 362167797 Museum of Science and Industry % KATHERINE GARANT MUSE 7735849844 5700 S Lake Shore Drive Suite Chicago IL 606372093 ALLYSON LAACKMAN VP-Fin & Admin / CFO 7739473748 2014-08-08 true Bridget T Roche 3128560200 2013 2015-11-30 17:44:51Z David Mosena 5700 S Lake Shore Drive Chicago IL 606372093 51266084 false X WWW.MSICHICAGO.ORG X 1933 IL Museum of Science and Industry seeks to further public understanding of science, technology and industry by providing visitors with integrated learning experiences. 107 104 462 568 1369225 25825598 22351961 17845068 18706623 3184504 2942718 4383417 4540706 51238587 48542008 7500 8000 0 0 24724812 25611635 60517 44784 5941371 37455860 35904204 62248689 61568623 -11010102 -13026615 278792083 268037474 77625631 73466138 201166452 194571336 X THE MUSEUM OF SCIENCE AND INDUSTRY (THE MUSEUM) IN CHICAGO IS THE LARGEST SCIENCE MUSEUM IN THE WESTERN HEMISPHERE AND HOME TO THOUSANDS OF EXHIBITS AND ARTIFACTS. FOR MORE THAN 80 YEARS, THE MUSEUM HAS BEEN A PREMIER DESTINATION IN CHICAGO. THE MUSEUM'S MISSION IS TO INSPIRE THE INVENTIVE GENIUS IN EVERYONE, AND ITS VISION IS TO INSPIRE AND MOTIVATE CHILDREN TO ACHIEVE THEIR FULL POTENTIAL IN SCIENCE, TECHNOLOGY, MEDICINE AND ENGINEERING. APPROXIMATELY 340,000 STUDENTS ARE AMONG THE NEARLY 1.5 MILLION GUESTS THAT VISIT EACH YEAR. THROUGH ITS CENTER FOR THE ADVANCEMENT OF SCIENCE EDUCATION, THE MUSEUM REACHES THOUSANDS OF STUDENTS AND TEACHERS THROUGH SPECIAL PROGRAMS, LEARNING LABS AND EDUCATOR WORKSHOPS. false false 23963359 9622432 Museum and Operations, which include Program Support Services and Exhibit Maintenance. These expenses support the Museum's vision of inspiring and motivating children to achieve their full potential in science, technology, medicine and engineering by providing guests and teachers with integrated learning experiences and programming that is centered on exciting and interactive exhibits that help explain how science directly impacts our daily lives. 8069320 4622529 World-class permanent exhibitions include Science Storms, a 26,000-square-foot exhibit that reveals the extraordinary science behind some of nature's most powerful and compelling phenomena; and You! The Experience, a 15,000-square-foot exhibit that explores the human mind, body and spirit. Other favorite experiences include the U-505 Submarine, the only German U-boat captured during World War II, surrounded by more than 30,000 square feet of artifacts and interactive activities; the Coal Mine, a reproduction of an Illinois coal mine that takes guests down 50 feet in a real hoist to the bottom of a mineshaft; Future Energy Chicago, a multi-player visual simulation where teams of guests work together to develop a greener city; and The Great Train Story, a dynamic model train display that illustrates modern rail operation. 6267220 8000 456235 Educational Programs and Activities. The Museum's Center for the Advancement of Science Education (CASE) impacts guests and students in the building and in their communities in a variety of ways. MSI offers live science demonstrations, facilitated learning labs for school groups, free teacher development and training, online experiments and lesson plans, after-school science club networks in underserved communities, and a club for teens that helps them learn science skills as they prepare for college. 2497442 4067726 40797341 true true false true false false false true false true true false false false true true true false false false false false false true true false false false true true true false false false false false false false false false true true false false false false false false false false true 125 0 true 462 true true true false false false false true true false false false false X 107 104 true false false false false false false true true false false true true true true true true true true false CA FL IL MI NY OH WI X X KATHERINE GARANT 7739473748 5700 S LAKE SHORE DRIVE Chicago IL 606372093 Charles S Locke Life Trustee 1.0 X 0 0 Edward M Liddy Life Trustee 1.0 X Dr Thomas L Martin Jr Life Trustee 1.0 X John D Nichols Life Trustee 1.0 X James J O'Connor Life Trustee 1.0 X Walter R Peirson Life Trustee 1.0 X Cindy Pritzker Life Trustee 1.0 X Louis A Simpson Life Trustee 1.0 X S Jay Stewart Life Trustee 1.0 X Eugene A Tracy Life Trustee 1.0 X Dr Arnold R Weber Life Trustee 1.0 X William L Weiss Life Trustee 1.0 X David Mosena President/Trustee 35.0 X X 559819 22892 Jeffrey S Aronin Trustee 1.0 X William C Bartholomay Trustee 1.0 X Charles K Bobrinskoy Trustee 1.0 X Barbara L Bowles Trustee 1.0 X Allan E Bulley Jr Trustee 1.0 X Martin Cabrera Jr Trustee 1.0 X John A Canning Jr Trustee 1.0 X Alison L Chung Trustee 1.0 X Frank M Clark Trustee 1.0 X Christopher M Crane Trustee 1.0 X James S Crown Trustee 1.0 X Kent P Dauten Trustee 1.0 X Deborah L DeHaas Trustee 1.0 X William J Devers Jr Trustee 1.0 X David E Donovan Trustee 1.0 X James J Drury III Trustee 1.0 X W James Farrell Trustee 1.0 X Michael W Ferro Jr Trustee 1.0 X Dennis J FitzSimons Trustee 1.0 X James J Fuentes Trustee 1.0 X Mark F Furlong Trustee 1.0 X Matthew R Gibson Trustee 1.0 X Ronald J Gidwitz Trustee 1.0 X James T Glerum Trustee 1.0 X William M Goodyear Trustee 1.0 X James A Gordon Trustee 1.0 X James A Gray Trustee 1.0 X Jay L Henderson Trustee 1.0 X Roberto R Herencia Trustee 1.0 X Betsy D Holden Trustee 1.0 X Edward L Kaplan Trustee 1.0 X John P Keller Trustee 1.0 X Michael P Krasny Trustee 1.0 X Frederick A Krehbiel Trustee 1.0 X Avis LaVelle Trustee 1.0 X Eric P Lefkofsky Trustee 1.0 X Richard H Lenny Trustee 1.0 X Charles A Lewis Trustee 1.0 X H John Livingston Trustee 1.0 X Robert A Livingston Trustee 1.0 X Barry L MacLean Trustee 1.0 X Dr Walter E Massey Trustee 1.0 X Andrew J McKenna Trustee 1.0 X Robert S Morrison Trustee 1.0 X William L Morrison Trustee 1.0 X Robert S Murley Trustee 1.0 X Terry E Newman Trustee 1.0 X William A Osborn Trustee 1.0 X Sheila A Penrose Trustee 1.0 X Jason Pritzker Trustee 1.0 X Scott A Rafferty Trustee 1.0 X J Christopher Reyes Trustee 1.0 X Larry D Richman Trustee 1.0 X Desiree Rogers Trustee 1.0 X Jesse H Ruiz Trustee 1.0 X James T Ryan Trustee 1.0 X Michael J Sacks Trustee 1.0 X John F Sandner Trustee 1.0 X Ronald M Saslow Trustee 1.0 X Rouhy J Shalabi Trustee 1.0 X James A Skinner Trustee 1.0 X Gregory D Smith Trustee 1.0 X Melody A Spann-Cooper Trustee 1.0 X J Douglas Sparkman Trustee 1.0 X Robert Y Sperling Trustee 1.0 X Michael Tang Trustee 1.0 X Mark A Thierer Trustee 1.0 X Cedric D Thurman Trustee 1.0 X Arthur R Velasquez Trustee 1.0 X David J Vitale Trustee 1.0 X Ralph Wanger Trustee 1.0 X Gregory D Wasson Trustee 1.0 X Ann C Williams Trustee 1.0 X Thomas J Wilson Trustee 1.0 X David F Zucker Trustee 1.0 X Neal S Zucker Trustee 1.0 X Michelle L Collins Trustee 1.0 X Richard P Grimley Trustee 1.0 X Elizabeth M Thompson Trustee 1.0 X Jay Christoper thru Oct 2013 Trustee 1.0 X Timothy Maloney thru Feb 2013 Trustee 1.0 X Miles D White thru June 2013 Trustee 1.0 X Jeffrey A Smisek thru Dec 2013 Trustee 1.0 X Dr James S Kahn thru July 2013 Life Trustee 1.0 X Frank W Luerrsen thru Sept 2013 Life Trustee 1.0 X Rhett W Butler Life Trustee 1.0 X Peter R Carney Life Trustee 1.0 X Frank W Considine Life Trustee 1.0 X Stanton R Cook Life Trustee 1.0 X Lester Crown Life Trustee 1.0 X Dr Victor J Danilov Life Trustee 1.0 X Robert J Darnall Life Trustee 1.0 X James C Dowdle Life Trustee 1.0 X Jere D Fluno Life Trustee 1.0 X David W Grainger Life Trustee 1.0 X J Ira Harris Life Trustee 1.0 X Richard M Jaffee Life Trustee 1.0 X James R Kackley Life Trustee 1.0 X Dr Leon M Lederman Life Trustee 1.0 X Michael J Birck Life Trustee 1.0 X Eileen Cabrera Corporate Secretary 35.0 X 88154 12063 Robert Fisher VP - Finance & Administration 35.0 X 270475 13438 Kurt Haunfelner VP - Exhibits and Collections 35.0 X 237490 11269 Robert J Gallas Jr VP - Marketing 35.0 X 200712 7173 Andrea Ingram VP - Education 35.0 X 214715 12953 Sheila Cawley VP - External Affairs 35.0 X 229863 24572 Allyson Laackman VP - Finance & Administration 35.0 X 48774 796 Stacey Kraft VP - Human Resources 35.0 X 128378 13740 Katherine Garant Director of Finance/Controller 35.0 X 167177 23296 David Hanses Director of Major Gifts 35.0 X 171695 13769 Duncan Harris Museum Counsel 35.0 X 191498 7402 Denise Johnson Director, Human Resources 35.0 X 153373 6072 Mary Krinock Chief of Staff 35.0 X 140800 12685 2802923 0 182120 33 false true false AlliedBarton Security Services LLC PO Box 828854 PHILADELPHIA PA 19182 Security 1185653 Sodexo America LLC 5700 S Lake Shore Drive CHICAGO IL 60637 Catering 1140581 Evidence Design 45 Main Street Ste 1014 BROOKLYN NY 11201 Exhibit Design 421913 Grant Thornton LLP 175 W Jackson Blvd CHICAGO IL 60604 Accntg/Auditing 133900 Pulseworks LLC 5100 Highlands Pkwy SMYRNA GA 30082 Printing 108984 7 2084022 2618049 6131058 11518832 5386989 22351961 GENERAL ADMISSIONS 900099 9622433 9622433 SPECIAL EXHIBITS 900099 2031326 2031326 OMNIMAX THEATER 900099 1531917 1531917 MEMBERSHIP FEES 900099 1366473 1366473 U-505 PERMANENT EXHIBITS 900099 1313503 1313503 2840971 2840971 18706623 2658536 2658536 0 20600 20600 761150 761867 -717 0 -717 -717 3866943 -2682243 900518 2966425 -2682243 284182 284182 156742 2618049 687494 -530752 -530752 8600 17374 -8774 -8774 930697 356823 573874 558354 15520 PARKING AND OTHER GUEST SERVICES 900099 2373924 2373924 FOOD COURT 722514 924689 924689 SPONSORSHIP REVENUES 900099 225000 225000 962862 62299 811588 88975 4486475 48542008 18768922 1369225 6051900 0 8000 8000 0 0 1890227 452205 1208159 229863 0 19409330 12381994 4720217 2307119 303258 207370 56067 39821 2533317 1579103 621559 332655 1475503 919732 362020 193751 329448 327948 1500 183666 183666 163305 163305 82500 82500 44784 44784 761344 761344 3597604 2696666 731386 169552 3435659 126385 3235789 73485 2019714 967040 44456 1008218 379850 133552 214244 32054 0 1342997 1113375 229622 572754 363144 117728 91882 0 0 -277746 28983 -306729 0 14917061 14917061 323607 323607 BANK FEES/CREDIT CARD FEES 1275065 1275065 PROGRAM DEVELOPMENT 814394 379279 88443 346672 TRAINING/RECRUITMENT 750761 306334 381693 62734 EXHIBIT RENTAL EXPENSE 592981 592981 4639240 3296189 418270 924781 61568623 40797341 14829911 5941371 X 5257884 2945809 31294166 30813857 18351318 13346283 1684999 1117229 0 0 0 0 0 0 415999 414120 953926 720892 347433678 189059818 169351862 158373860 38622128 45081711 11073066 13317607 0 0 0 0 1786735 1906106 278792083 268037474 4328085 4140414 0 0 1435345 1771354 62000000 62000000 0 0 0 0 5660000 3350000 0 0 4202201 2204370 77625631 73466138 X 170883932 164785375 24797520 24250961 5485000 5535000 201166452 194571336 278792083 268037474 X -13026615 6411847 19652 X false true X true true true X 35056094 32691579 24941604 25825598 22351961 140866836 0 0 35056094 32691579 24941604 25825598 22351961 140866836 19995646 120871190 3746287 2405226 2115097 2470874 2679136 13416620 0 3681766 3768020 4216928 4206625 3777930 19651269 173934725 91083334 0.69492 0.66358 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false false false false true 100849 false false 100849 false Schedule C, Part II-B, Line 1b Make direct contact with covered federal and state officials as it relates to the Museum's needs. Schedule C, Part II-B, Line 1g Strategic counsel, government affairs and lobbying. Schedule C, Part II-B Fletcher, O'Brian, Kasper & Nottage provides the Museum of Science and Industry with lobbying services. X false 6071608 50000 746022 206071 6661559 5661624 640276 230292 6071608 5845132 -298249 208884 5337999 5514447 0 599415 0 268730 0 5845132 4597491 0 1604030 687074 0 5514447 0.83000 0.17000 false false 130700735 54010076 76690659 8697141 4003158 4693983 208035802 131046584 76989218 158373860 0 INTEREST RATE SWAP 829599 PENSION LIABILITY 505729 CAPITAL LEASE OBLIGATION 233724 ASSET RETIREMENT OBLIGATION 568768 OTHER LIABILITIES 66550 2204370 X 57567940 6411847 178381 3197048 9787276 47780664 761344 761344 48542008 64163056 178381 3177396 3355777 60807279 761344 761344 61568623 Schedule D, Part III, Line 1a The Museum's permanent collections, which were acquired since the Museum's inception through purchases and contributions from benefactors, are not recognized as assets on the statements of financial position. Purchases of collection items are recorded as decreases in unrestricted net assets in the year in which the items are acquired, or as temporarily or permanently restricted net assets if the assets used to purchase the items are restricted by donors. Contributed collection items are not reflected in the financial statements. Proceeds from deaccessions or insurance recoveries are reflected as increases in the appropriate net asset classes. The Museum's collections are made up of artifacts of historical significance, scientific specimens and art objects that are held for educational, research, scientific and curatorial purposes. Each of the items is cataloged, preserved and cared for, and activities verifying the items' existence and assessing their condition are performed continuously. Schedule D, Part III, Line 4 The Museum's collection - with almost 40,000 objects that showcase advances in science, industry and technology - serves to create spectacular exhibits and experiences that excite and inspire Museum guests and further the Museum's mission and vision. Remarkable artifacts in the collection include the 700-ton U-505 Submarine; a real United 727 airplane; the Pioneer Zephyr, the train that set the speed record in 1934; a British Spitfire WWII plane; a collection of carefully preserved human anatomical slices and fetuses; and much more. The museum's collections are designed to spark scientific inquiry and creativity to motivate children to achieve their full potential in science, technology, medicine and engineering in furtherance of the museum's exempt purpose. Schedule D, Part V, Line 1 subsequent to the issuance of the museum's 2013 financial statements and Form 990 filing, management became aware of accounting errors. Those errors were considered material to the financial statements, and were restated in the 2013 financial statements. Accordingly, the opening balance sheet on Form 990 Part X, and schedule of endowment funds on Schedule D have been restated to reflect such changes. Schedule D, Part V, Line 4 The organization's endowment funds are meant to serve as a source of financial support of the Museum's mission. A portion of annual endowment earnings are used to support Museum general operations. Earnings are directed to specific elements of the Museum's operations as directed by donor restrictions on respective contributions to the endowment. Schedule D, Part X, Line 2 The Museum has received a determination letter from the Internal Revenue Service indicating that the Museum is exempt from income taxes under the provisions of Section 501(c)(3) of the Internal Revenue Code, except for income taxes pertaining to unrelated business income. The Financial Accounting Standards Board issued guidance that requires tax effects from uncertain tax positions to be recognized in the financial statements only if the position is more likely than not to be sustained if the position were to be challenged by a taxing authority. Management has determined that there are no material uncertain positions that require recognition in the financial statements. Additionally, no provision for income taxes is reflected in these financial statements as the Museum's unrelated business taxable income was offset by unrelated business loss carryovers in both years. There are no tax positions for which a material change in any unrecognized tax benefit or liability is reasonably possible in the next 12 months. There is no interest or penalties recognized in the statements of financial position or statements of activities and changes in net assets. The tax years ended 2010, 2011, 2012 and 2013 are still open to audit for both federal and state purposes. Schedule D, Part XI, Line 2d FUNDRAISING EXPENSES $687,494 RENTAL EXPENSES $761,867 COST OF GOODS SOLD $356,823 GAMING ACTIVITIES EXPENSES $17,374 CHANGE IN VALUE OF LIFE INSURANCE POLICY $19,652 CHANGE IN VALUE OF INTEREST RATE SWAP $935,901 MINIMUM PENSION LIABILITY CHANGE $417,937 ----------- TOTAL $3,197,048 SCHEDULE D, PART XII, LINE 2D FUNDRAISING EXPENSES $687,494 RENTAL EXPENSES $761,867 COST OF GOODS SOLD $356,823 GAMING ACTIVITIES EXPENSES $17,374 CHANGE IN VALUE OF INTEREST RATE SWAP $935,901 MINIMUM PENSION LIABILITY CHANGE $417,937 ----------- TOTAL $3,177,396 X X X X X X X true ComNet Marketing 1214 Stowe Avenue Medford OR 97501 Telemktg Membership false 76553 44784 31769 76553 44784 31769 CA FL IL MI NY OH WI Black Creativ 648711 568736 79975 35970 139002 6275 37954 Columbian Ball 2126080 2049313 76767 54076 114074 35942 264201 0 2774791 2618049 156742 90046 253076 42217 302155 687494 -530752 57th Street and Lake Shore Drive Chicago IL 60637 Schedule G, Part I, Line 2b MSI CONTRACTS WITH COMNET TO DO THE FOLLOWING: DESIGN PROGRAM, WRITE THE SCRIPT, SEND A COPY OF THE SCRIPT TO THE MSI FOR APPROVAL, TRAIN TELEPHONE SALES REPRESENTATIVES ON PROGRAM, CALL PROSPECTS/MEMBERS AND SOLICIT/RENEW MEMBERSHIPS/PERFORM QUALITY CONTROL MONITORING OF SAMPLE CALLS AS THEY OCCUR, TRANSMIT A "DAILY REPORT COVERSHEET" WITH A RECAP OF PREVIOUS DAYS CALLING TO MSI DAILY, SEND HARD COPIES OF DUES PLEDGED BY CERTIFIED MAIL TO MSI SEMI-MONTHLY WITH THE COMNET INVOICE, AND PROVIDE MSI WITH THE FINAL RESULT FOR ALL CALLING RECORDS AT THE END OF THE CALLING PROGRAM. COMNET IS IN CONTROL OF DUES THAT ARE RAISED THROUGH THEIR FUNDRAISING SERVICES. COMNET IS RESPONSIBLE FOR MAILING/EMAILING ALL PLEDGE FORMS AND DUES INVOICES. true Science Achievers - CASE celebration 30 8000 FMV laptops Schedule I, Part I, Line 2 Laptop computers were provided to 23 high school students enrolled in the Museum's science achievers program. The students selected to receive the computers were graduating from high school and preparing to attend college in the fall of 2013. In addition to being college-bound, a certain number of volunteer hours was required of the students in order to receive the laptop. The museum's community initiatives staff worked closely with the students over the course of the school year and awarded the computers at the culmination of the program. X X X X true false false false false false false true false Katherine Garant Director of Finance/Controller 155179 11998 4797 18499 190473 David Hanses Director of Major Gifts 166659 5036 13769 185464 Duncan Harris Museum Counsel 177998 13500 5400 2002 198900 Denise Johnson Director, Human Resources 74102 3517 75754 1786 4286 159445 Mary Krinock Chief of Staff 140800 4293 8392 153485 David Mosena President/Trustee 486451 70000 3368 7856 15036 582711 Robert Fisher VP - Finance & Administration 147475 123000 3339 10099 283913 Kurt Haunfelner VP - Exhibits and Collections 237490 11269 248759 Robert J Gallas Jr VP - Marketing 200712 4651 2522 207885 Andrea Ingram VP - Education 214715 5839 7114 227668 Sheila Cawley VP - External Affairs 229863 6853 17719 254435 Schedule J, Part I, Line 4a Robert Fisher, Finance VP left in 2013 and received $123,000 in severance. Denise Johnson, Director of HR left in 2013 and received $75,754 in severance. Schedule J, Part I, Line 7 The Compensation Committee reviewed and approved a $70,000 bonus for the President. The bonus amount was not based on the organization's net earnings. The Compensation Committee reviewed and approved bonuses for three highly compensated employees due to an assumption of increase responsibilities. A IFA Series 2009A-D 851091967 45200FJ91 2009-12-17 64000000 Construction, Exhibits false false false A 2000000 0 64000000 0 0 62937702 429298 0 633000 0 0 0 true false true true A false false false false 0 false false false false A false false false false true false 0 false 0 false false A false Schedule K, Part V Procedures to Undertake Corrective Action The Museum has not violated any applicable requirements for tax exempt bonds benefitting the Museum. The Museum has not established written procedures to ensure timely identification of violations of federal tax requirements or timely correction of any identified violations, but the Museum will develop procedures in the near future. David E Donovan Trustee 644833 Bond/LOC Interest/Fees false David E Donovan Trustee 936940 Corporate Credit Card Payments false William L Morrison Trustee 189053 Bond/Bank Fees false Schedule L, Part IV David E. Donovan, a trustee of MSI, is a CO-CEO of Chase Capital Corporation. MSI's transactions with JP Morgan are done in terms similar to those given to the general public. The conflict exists in that Mr. Donovan is a member of the Finance Committee, which approves all financial matters of MSI including banking. To resolve this conflict Mr. Donovan does not participate in discussions regarding the relationship with JP Morgan Chase and excuses himself when the Finance Committee is voting on financial matters related to MSI and JP Morgan Chase. William L. Morrison, a trustee of MSI, is president and COO of Northern Trust Bank. Northern Trust provides banking, asset/treasury management, and commercial lending for MSI. These services are provided in the same terms as those given to the general public. The conflict exists in that Mr. Morrison is a member of the Finance Committee, which approves all financial matters of MSI including banking. To resolve this conflict Mr. Morrison does not participate in discussions regarding the relationship with Northern Trust Bank and excuses himself when the Finance Committee is voting on financial matters related to MSI and Northern Trust Bank. X 27 4987942 Cost/Selling Price X Black Creativity 29 35970 Cost/Selling Price X Columbian Ball 12 54076 Cost/Selling Price X Facilities & Major Gifts 31 8000 Cost/Selling Price X United Airline Tickets 175 105245 Cost/Selling Price false true false Form 990, Part III, Line 4D Ancillary Services represent various guest services that enhance the guest experience. These include the Omnimax Theater, Museum Store, food services, and parking services. Form 990, Part VI, Line 2 James Crown and Lester Crown have a family relationship. Deborah L. DeHass and Betsy D. Holden have a family relationship. Jason Pritzker and Cindy Pritzker have a family relationship. Cedric Thurman and Sheila Penrose have a business relationship outside of the Museum. James Crown and Lester Crown have a business relationship outside of the Museum. Betsy Holden and H. John Livingston have a business relationship outside of the Museum. James T. Ryan and David Grainger have a business relationship outside of the Museum. Charles K. Bobrinskoy and David J. Vitale have a business relationship outside of the Museum. Christopher Crane, John Canning, and Jesse Ruiz have a business relationship outside of the Museum. Michael Ferro, Jr., John Canning, and Michael J. Sacks have a business relationship outside of the Museum. David Vitale and Gregory D. Smith have a business relationship outside of the Museum. Michelle Collins and Frederick A. Krehbiel have a business relationship outside of the Museum. Thomas Wilson and James Farrell have a business relationship outside of the Museum. James Crown and David Donovan have a business relationship outside of the Museum. Deborah DeHaas and Michael P. Krasny have a business relationship outside of the Museum. John Canning and Michael P. Krasny have a business relationship outside of the Museum. Deborah DeHaas and Thomas Wilson have a business relationship outside of the Museum. Matthew R. Gibson and Thomas Wilson have a business relationship outside of the Museum. Charles Bobrinskoy and Eric Lefkofsky serve on a board outside of the Museum. Edward Liddy, James Farrell and Robert Morrison serve on a board outside of the Museum. James. T. Ryan and David Grainger serve on a board outside of the Museum. Miles White, William Devers and Michael Ferro serve on a board outside of the Museum. Miles White, James Farrell, Edward Liddy, William Osborn, Glenn Tilton serve on a board outside of the Museum. Miles White, Richard Lenny, William Massey, Andrew McKenna and James Skinner serve on a board outside of the Museum. David Donovan and James Crown serve on a board outside of the Museum. Michelle Collins, Frederick Krehbiel and Michael J. Birck serve on a board outside of the Museum. Form 990, Part VI, Line 11b The Museum's 990 is prepared by an external public accounting firm, who provides drafts for internal review. After the internal review, these drafts are updated, and a final draft is reviewed by the Chairman of the Audit Committee and is made available to the trustees electronically for their review, prior to electronically filing with the Internal Revenue Service. Form 990, Part VI, Line 12c The Museum formally sends a conflict of interest questionnaire annually to trustees, officers, and employees. The Museum's Compliance Officer reviews the results of the questionnaires, and investigates any reported potential conflicts for resolution as necessary. Form 990, Part VI, Line 15a The Compensation Committee of the Board of Directors oversees and approves the compensation for the Executive Staff of the Museum. Individual performance is evaluated by established goals and objectives which support MSIs mission and priorities. These goals and objectives are reviewed annually as part of the Museums Performance Management Process. The process consists of: 1. The Compensation Committee meets annually at the end of Q1 to review and make decisions on all Executive (CEO & VP's) compensation. 2. Individual performance is evaluated against goals and objectives that support MSI's mission and strategic priorities. 3. From time to time, HR prepares a compensation benchmark analysis consisting of peer institutions to ensure Executive compensation remains competitive within industry and reasonable. 4. Each year, MSI's Leadership Team determines if merit increases will be awarded to Museum staff. The VP of HR facilitates and drives this process to ensure consistency and fairness across the museum. 5. The process is contemporaneously documented. Form 990, Part VI, Line 18 The museum posted a copy of its 2012 form 990 on its website and made copies of 2010, 2011, 2012 form 990 and 990T publicly available upon request. As the museum filed the application for recognition of exemption, form 1023 before July 15, 1987, it need not be made publicly available. Form 990, Part VI, Line 19 The Museum's Annual Report and the financial statements are made available to the public via the Museum's website and upon request, respectively. Governing documents and conflict of interest policy are available to the public upon request. Form 990, Part X subsequent to the issuance of the museum's 2013 financial statements and Form 990 filing, management became aware of accounting errors. Those errors were considered material to the financial statements, and were restated in the 2013 financial statements. Accordingly, the opening balance sheet on Form 990 part X, and schedule of Endowment Funds on Schedule D have been restated to reflect such changes. Form 990, Part XI, Line 9 CHANGE IN VALUE OF LIFE INSURANCE POLICY 19,652 --------- TOTAL $19,652